is fighting three separate class actions from a trio of British law firms over the collapse of a $6 billion investment fund in Britain in 2019.
Former star stock picker Neil Woodford went from hero to zero in the UK, and the fallout has been immense for Link Group. Link told the ASX on Thursday that British law firm Harcus Parker had served a class action against its UK subsidiary Link Fund Solutions on behalf of 1912 claimants related to the LF Equity Income Fund, formerly known as the LF Woodford Equity Income Fund.
It follows a class action launched by British law firm Leigh Day two days ago, which has 985 claimants. A third firm, Wallace, began a class action in October over the same issue and has 3215 claimants involved in its action.The Woodford fund, which had been run by star stockpicker Neil Woodford, had £3.7 billion in funds, but collapsed in 2019 after a flood of redemption requests.
Link Group said on October 20 it was looking to sell the troublesome British arm, Link Fund Solutions, whose liabilities of as much as $600 million over the Woodford fund collapse led to Canadian groupUncertainty over just how high the liabilities and future payouts connected to Link Fund Solutions might end up was central to Dye
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